8 Customer Retention Strategies That Will Boost Your Revenue
Returning shoppers are the best. Why? They spend 3 times more, it’s cheaper to bring them back than to acquire new customers and they also help us with acquiring new customers, sometimes for small rewards and other times for free.
So overall, it’s crucial to keep them happy. Here are some retention tactics that will come handy:
1. Surprise your customers
Surprising customers with small gifts is a fail-proof way to boost the customer retention rate. You can send a pair of socks with the new shoes they bought, or an extra ear cap with the headphones. Even a personalized card or thank you note will do the trick. It doesn’t have to be big but personalized as it shows that you care.
2. Keep testing your email strategies
Use the data you already have to create a product list that they might be interested in. Send it with a personalized subject line and skyrocket your email click-through rate. Also, make sure that the copy and image compliments each other, the font you use is readable and the images are highly engaging.
3. Make them feel special.
Sounds cheesy, but we are talking about a loyalty program here. This good old technique still works wonder if done right, The key is to make customer feel Important by offering exclusive deals.
4. Seamless customer service
Consumer behavior is changing faster than then technology. Now the consumer decides where they want to be contacted and when. So in order to boost the retention rate, you have to provide consistent and seamless experience on all channels.
5. Pay attention to the Feedback
Capture, analyze and act on customer feedback. You will be surprised by the results.
6. Create a sense of urgency
By offering time-limited promotions, you actually create a sense of urgency. This compels even the laziest customers to act fast. But don’t just include. *Offer for a limited period only. Come up with creative copies that prompts them to take action.
7. Honesty is the best policy.
The best way to retain customers is, to be honest with them. Always be honest about your return policy, payment process etc.
8. Do not promise too much.
Over-promising hurts your reputation and shatters the trust. Avoid over-promising and under-delivering. Being transparent about timelines, and keeping communication channels open is the best way to generate and retain trust among your customers.